STOCKHOLM; Nov. 18, 2010 – Accenture (NYSE: ACN) has signed a six-year business process outsourcing (BPO)
agreement with KF Shared Services AB – The Swedish Cooperative Union, to provide the KF Group and its subsidiaries with finance and accounting (F&A) services.
The agreement is designed to streamline KF’s F&A processes, while improving cost effectiveness and service delivery. Under the terms of the agreement Accenture will manage KF’s accounts payable, accounts receivable and record-to-report processes.
The services will be delivered through Accenture’s Global Delivery Network. The new contract builds on an existing relationship between the two companies, whereby Accenture has provided KF with management consulting and technology services.
“Accenture’s ability to provide a qualitative and cost-effective solution coupled with its proven track record of delivering similar services for Swedish companies made it the ideal first choice for this program,” said Johnny Capor, chief financial officer of KF. “The work we have delivered together on technology and consulting projects has shown that Accenture combines both deep industry knowledge and a close understanding of our business.”
“KF’s decision to outsource F&A services to Accenture will offer both cost efficiencies and greater flexibility,” said Patrik Björkler, senior executive in Accenture’s Nordic outsourcing practice. “We are looking forward to continuing our collaboration with KF with this new program.”
Accenture is a global management consulting, technology services and outsourcing company, with approximately 204,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$21.6 billion for the fiscal year ended Aug. 31, 2010. Its home page is www.accenture.com
KF - The Swedish Cooperative Union, is a federation of 47 consumer cooperative societies in Sweden, with over 3 million individual members.
KF is the parent company of KF Group where Coop’s grocery retail trade constitutes its core business. Coop operates grocery retail shops in chains like Coop Forum, Coop Extra, Coop Konsum and Coop Nära. Together with the retail consumer cooperative societies, Coop accounts for 21.5 percent of the entire Swedish grocery retail sector.
The KF Group is also home to a number of companies within different business sectors as well as companies offering internal services. The subsidiaries include, amongst others, KF Fastigheter (real estate business), Akademibokhandeln with its online bookstore Bokus, Norstedts publishing group, PAN Vision Group (distribution of films and digital games), Vi Magazine, KF Invest and Vår Gård Saltsjöbaden (conference facility).
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